Blackrock Investment Management LLC

Larry Fink

Larry Fink: A Positive Contribution

The inestimable influence of Larry Fink and Blackrock, Inc. is so well-known that Mr. Fink hardly needs an introduction. In fact, he’s such a fixture within the financial community that it feels like he’s always been there.

Larry’s career in finance began in earnest when he joinedThe First Boston Corporation as a managing director in 1976. There, he quickly became one of the first mortgage-backed securities traders on Wall Street; during his tenure at First Boston, Mr. Fink also served as co-head of the Taxable Fixed Income Division, started the Financial Futures and Options Department, and headed the Mortgage and Real Estate Products Group.

Laurence’s fast track to whale-dom, however, really began when he and seven partners foundedBlackRock Inc. in 1988. Under Larry Fink’s leadership, the firm has grown into a global leader in investment and technology solutions; the firm’s $6.29 trillion in assets under management make it the world’s largest asset manager.

As for Mr. Fink himself, he’s been namedone of the World’s Greatest Leaders by Fortune, and Barron’shas identified Larry as one of the World’s Best CEOs for 12 consecutive years. I could continue with the list of accolades, but that would take up quite a bit of space; suffice it to say that Laurence Fink’s influence has not gone unnoticed.

Although the media announced that Larry Fink had attained billionaire status in early 2018, what really cements his legacy as a financial whale is his approach to investing: Mr. Fink helped popularize exchange-traded funds, making it simpler and more convenient to diversify and build wealth through a multiplicity of assets.

And so, Laurence Fink has fulfilled one of his stated objectives: to make “a positive contribution to society.” That, more than delivering profits, is our responsibility, according to Mr. Fink in a recent letter to CEOs of public companies.

The impact that Larry Fink and Blackrock have made on finance is deep and lasting. Even among the financial elite, respect is always given – or as Kyle Sanders put it most succinctly, “You have to look at Larry when you think of asset management.”

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